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COMMITTEE DISCUSSIONS AND RECOMMENDATIONS 3. Data – Trends and Socio-Economic Impact Key Take-Aways
The world is awash with data. The proliferation of big data, analytics and Artificial Intelligence (AI) has led to the creation of many new information intensive services and also the transformation of existing businesses. Data inter alia contributes to economic value and wealth. Frameworks are being created to better understand the uses and benefits of data. Organizations have been discovering ways to generate value from data. The digital economy is witnessing the emergence of a few dominant players and a certain imbalance in the market. Given the increasing importance and value generation capacity of the data economy, governments around the world realise the need to enable and regulate all aspects of data, both Personal and Non-Personal Data.
Data availability and value generation from data 3.1. The world is awash with data. Planet scale adoption of theInternet, smartphones, and cloud driven apps, followed by increasing use of AI-systems are the main reasons why we are generating and consuming data at a scorching pace.
i. There are over 3 billion smartphone users in the world1. Instagram had over 277,000 stories posted, Google had over 4.4 million searches and Uber had over 9,700 rides every minute of the day in 20192.
ii. Estimates suggest that the world will generate about 90 zettabytes (approximately a billion terabytes) of data in this year (2020) and the next, more than all the data produced since the advent of computers3. By 2025, worldwide data is expected to grow to 175 zettabytes, with much of the data residing in the cloud4.
1https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/, accessed on 15/03/2020 2https://www.forbes.com/sites/nicolemartin1/2019/08/07/how-much-data-is-collected-every-minute-of-theday/#1dd7255b3d66 3https://www.economist.com/special-report/2020/02/20/a-deluge-of-data-is-giving-rise-to-a-new-economy 4https://www.networkworld.com/article/3325397/idc-expect-175-zettabytes-of-data-worldwide-by2025.html
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